Vehicles Sales down 36% In Jan 2023 - MAA

Vehicle sales in Malaysia fell 36% to 49,461 units in Jan 2023, from 76,657 units in December 2022. This is likely due to the fewer working days resulting from the festive Chinese New Year holidays, as well as the on-going chip and component shortage that plagued certain manufacturers, according to the Malaysian Automotive Association (MAA).

Compared to the same period last year, the association notes that car sales have increased by 19% from 41,533 units in Jan 2022. The MAA adds that sales in February are expected to be higher Month-over-Month (MoM) with the return of a full working month plus carmakers fulfilling deliveries for bookings made during the sales tax exemption period.

As to specifics, the MAA notes that passenger vehicle sales increased to 43,927 units in Jan 2023, marking an increase of 9357 units from the 34,570 units sold in the same period last year. Commercial vehicles, on the other hand, saw a decline in sales to 5,534 units in Jan 2023 from 6,963 units in Jan 2022.

Meanwhile, total vehicle production has increased by 36.2% year-on-year to 58,527 units in Jan 2023. This, in turn, marks an increase of 15,566 units from the 42,961 units produced in the same time the previous year.